Hybrid finger turmeric prices up

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ERODE, DEC 8:

Prices of hybrid finger variety turmeric increased on Thursday as the quality of arrivals was good but rates for other varieties dropped.

“Because of very good quality, the Hybrid Finger variety turmeric price has increased by Rs 450 per quintal on Thursday. All the 200 and odd bags of such variety were sold for Rs 5353 per quintal, which was increased by Rs 450 per quintal. But the traders have quoted decreased price for other varieties, due to want of demand”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said because of heavy production in Tamilnadu, Andhra Pradesh and other places, the prices were decreased. For the current year out of 25 lakh bags of turmeric arrived for sales, only 12 lakh bags were sold. Next year the farmers are expecting a minimum of 40 lakh bags of turmeric. So certainly the prices will fall drastically. Because of this situation no exporter is ready to stock the produce.

Ravishankar said except Kerala other States are buying Turmeric produced in Tamilnadu and most of the quantities are utilised for domestic purposes. In the next year more crop will arrive for sale in Nizamabad and Sangli. The traders are buying the turmeric for their local orders received from Masala firms.

On Thursday ten thousand and odd bags of turmeric arrived for sales, 50 percent stocks were sold.

At Erode Turmeric Merchants Association Sales yard, finger variety turmeric was sold at Rs 3164 to Rs 4096 per quintal, root variety Rs 3099 to Rs 3824 per quintal.

Salem Crop: The finger variety was sold at Rs 4289 to Rs 5353 per quintal, root variety Rs 4109 to Rs 4391 per quintal. Out of total arrival of 2743 bags 610 bags were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 3780 to Rs 4272 per quintal, root variety Rs 3619 to Rs 4140 per quintal. Out of arrival of 217 bags, 193 bags were sold.

At the Erode Cooperative Marketing Society, finger variety fetched Rs 3739 to Rs 4269 per quintal, root variety Rs 3889 to Rs 4249 per quintal. 1164 bags were sold as against the arrival of 1189 bags.

At the Regulated Marketing Committee, finger variety was sold at Rs 3769 to Rs 4131 per quintal, root variety Rs 3739 to Rs 4239 per quintal. Out of arrival of 1272 bags of turmeric 985 bags were sold.

Source: http://www.thehindubusinessline.com/markets/commodities/article2698171.ece

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